‎Luberef trades between SAR 92.50-98.30 on debut

‎Luberef trades between SAR 92.50-98.30 on debut

Saudi Aramco Base Oil Co. (Luberef) is trading between SAR 92.50 and SAR 98.70 during its first session today, Dec. 28, compared to the listing price of SAR 99.

Nearly seven million shares were traded through nearly 31,000 transactions, valued at SAR 660 million, so far.

Luberef began trading on Tadawul today under the materials sector, with the symbol 2223 and ISIN Code SA15M1HH2NH5, at SAR 99 per share.

The daily and static price fluctuation limits of +/-30% and +/-10%, respectively, will be applied during the first three days of the listing.

From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10% and the static price fluctuation limits will no longer apply.

The company offered 50.045 million shares, or 29.66% of its capital, on the main market, at SAR 99 per share, of which 75% was allocated to the participating parties and 25% to individual investors, according to data available with Argaam.

Retail investors fully subscribed to 12.511 million shares at SAR 99 each. Luberef’s institutional offering, which was completed last week, was 29.5x covered.

Retail offering was 230.1% covered. The number of retail subscribers reached 524,800, while total orders were valued at about SAR 2.85 billion.

A minimum of 10 shares were